Hoteliers aren’t in the business of telling guests what they can and cannot do—their ultimate goal is to create an experience that is flexible enough to perfectly match a guest’s wants and needs. Unfortunately, this isn’t always possible. Restrictions and stay controls are a necessary evil. In order to ensure that a hotel maximizes its
Your strategy for the future should always be informed by your performance in the past. By relying on empirical data and objective evaluations you can plan for obstacles, optimize opportunities and ultimately put the best rate strategy in place to maximize revenue throughout the coming year. Use the following strategies to carefully calibrate your rates
The hospitality sector’s budgeting season is fast approaching, meaning hoteliers need to start planning how to forecast occupancy, allocate funds and maximize profits for the coming year. A well-planned budget is a strategic asset that can help hotels stay profitable throughout all seasons. Conversely, a poorly-planned budget creates disruptions and lost opportunities that hurt the
Q4 has rolled around again and budget season is upon us. For hoteliers, it’s a time to look at upcoming hospitality trends, benchmark your hotel’s annual performance and create strategies to maximize your next year’s profits. Accurately forecasting future demand, expenses and profitability can be difficult—but luckily, there are hospitality tools that can help streamline
Lakeview Hotels and Resorts has led the charge in incorporating the right PMS into their hotel operations. With over 20 hotels, a spa, a golf course and five restaurants across Canada, Lakeview Hotels and Resorts requires comprehensive organization and attention to detail in its day-to-day operations. Profit-reaching initiatives and bottom line driven strategy led Lakeview
For smaller or boutique hotels forecasting may not seem like a priority, but it can have a positive impact on your business regardless of size. Taking advantage of seasonal trends and general guest behaviour tendencies can help you maximize your occupancy rates and increase overall revenue. Here are four ways smaller hotels can effectively forecast
It’s no secret that hotels have a somewhat contentious relationship with online travel agencies—having to compete with OTAs for online bookings can lead to lower profits for even the most popular hotels. But the reality is that OTAs are not going anywhere. Many travellers want to feel like they’re getting the best deal possible, and
We recently explored Where Hotel Managers Should be Spending Their Time and took a look at the core responsibilities of a hotel manager. Here are the key duties hotel managers should focus on. Prioritizing your digital strategy, developing a knowledgeable, committed staff and establishing customer loyalty will benefit any hotel manager—no matter the hotel. Learn
Introducing new technology can be an exciting process that pushes your hotel into its next chapter of success, but it is not always a simple process. Which tools are right for your office? How will you get people excited about using them? Are they worth the investment? While incorporating new technology isn’t always easy, it
The guests of your hotel likely fall into one of three categories. There are those who are not members of your loyalty program, those who are simply signed up and those who are devotees—they choose your hotel based on the relationship the loyalty program provides. When a guest joins this third group, you’ve “won”, and
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